Development Bank of Nigeria
EdFin kicks off operations, commits N1 billion to education finance
EdFin Microfinance Bank, Nigeria’s first specialised bank focused solely on education financing has kicked off operations in the country. According to the bank, its operations are designed to improve learning outcomes by providing financial services to private schools, school contractors, and other stakeholders in the education sector. The bank said it would enable schools to…
‘Risk assessment is determined by lender’
At an interaction with select journalists in Lagos, the Managing Direcetor/Chief Executive, Development Bank of Nigeria (DBN), Tony Okpanachi, reiterated the need for the development finance institution in a scarce liquidity environment and the challenges of accessing funds at low interest rate amid other economic issues. Clara Nwachukwu was there. Excerpts: DBN interventions across sectors,…
Single-digit lending alone can’t make MSMEs’ products competitive, says DBN
Development Bank of Nigeria (DBN), has again said the inability to on-lend to Micro, Small and Medium Enterprises (MSMEs) at a single digit as being clamoured is not solely responsible for their lack of competitiveness in the market. DBN, the latest development finance institution (DFI) set up in 2017, as wholesale lender, insisted that pricing…
Development bank joins SME finance forum
Development Bank of Nigeria (DBN) has joined the SME Finance Forum, which is a global membership network.The forum brings together financial institutions, technology companies, and development finance institutions to share knowledge...
DBN partners Wema in N763m small business funding
The Development Bank of Nigeria (DBN), has partnered with Wema Bank, to fund small businesses in order to improve their access to cheaper funds.Wema through this partnership hopes to improve access of MSMEs and commercial businesses of all business segments to funds up to N153million and N610million respectively.
Development Bank of Nigeria opens Lagos office
The Development Bank of Nigeria (DBN) has opened its Lagos office, located on Idejo Street in Victoria Island, to service Participating Financial Institutions (PFIs) domiciled in the commercial city of the country.
Concerns over interest rates, capacity, as DBN kicks off with N398.45b
With about 70,000 micro, small and medium enterprises seeking various forms of financial intervention to take their businesses to the next level, there are concerns about the ability of the Development Bank of Nigeria...
DBN will be devoid of political interference, says Adeosun
Barely two days into the official announcement of the board members of the newly licensed Development Bank of Nigeria (DBN), the Minister of Finance, Kemi Adeosun yesterday said government will not interfere in the operations and management of the bank.
Finance ministry names board, management of Development Bank of Nigeria
The Federal Ministry of Finance yesterday unveiled members of the board and management of the newly licensed Development Bank of Nigeria (DBN).A statement by the Director of Information in the Ministry, Alhaji Salisu Na’Inna Dambatta.....
CBN approves licence for development bank with N398.45b seed fund
The Central Bank of Nigeria (CBN) has approved a licence for the Development Bank of Nigeria with $1.3 billion as seed capital , Minister of Finance, Kemi Adeosun said yesterday.